The VEFA term is the abbreviation for Off-Plan Purchase in French.
This means that you will buy a new property whose construction is not yet complete. In some cases, the construction will start several months after the acquisition of the property.
In practice, between the time of purchase and the time of delivery of the property, there is often a period of between 12 and 24 months.
But of course, each new development is unique, and you can buy off-plan (VEFA in French) while the construction of the work is already well advanced; The delivery of the property taking place then only a few months later, or even a few weeks after the reservation (we also have the case where the property is completed by the time you sign the deed.
With the VEFA contract, the property is not yet built, the sale of the property will be decided on a validated floor plan and a technical description.
The Sale in Future State of Completion is a formula extremely framed by law, and perfectly secure for the purchaser.
The sale is made in several stages, here are the main ones:
The signing of the Reservation Contract,
The search for a French mortgage,
The signature of the deed at the French Notary (we can organise the signature in your country of residence also through a power of attorney),
Payment in stages of the off-plan property
And finally, taking possession of the property.